Interest

dilaver (Querist) 17 April 2015 This query is : Resolved
sir,my house had been auctioned by hdfc bank 5 yrs back.bank did not gave us extra money collected due to dispute between me and my wife as house was on both of us names,now settlement had been done between me and my wife and bank is only ready to give back extra amount only and no interest.can interest of 5 yrs can be taken from bank legally.

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Guest (Expert) 17 April 2015
When did you submit your claim and whether you requested formally to allow interest also on th amount withheld by the bank? If so, has the bank informed you in writing, why you are not entitled to interest?

Rajendra K Goyal (Expert) 18 April 2015
The money was not paid due to dispute among the claimants. The claimants never requested the Bank to put the amount in deposit schemes till final disposal. Under such conditions, Bank is justified in not paying the interest.

dilaver (Querist) 18 April 2015
dear sir,
it was smart on bank side not to give any thing in written neither showing us the way to put the money in deposit scheme.however whatever is gone is gone.i am just anxious to know if anything can be done regarding this to claim interest just for the sake of my greedy wife,so that tomorrow she should not come up with something new.and if something is possible approximate how much time it will take.please be straight and blunt on this.awaiting reply.

Kumar Doab (Expert) 19 April 2015
The house was owned by two persons and amount was to be paid equally to two persons.

If bank has not issued any communications/proceeds to both then bank should be made liable to tender interest.

Show all docs on record to a lawyer dealing in consumer cases and proceed after you have understood the merits.